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New York Mortgage Trust Announces Public Offering of Series B Cumulative Redeemable Preferred Stock

New York Mortgage Trust, Inc.
(Nasdaq: NYMT) (the "Company") today announced that it plans to make a public
offering of shares of its Series B Cumulative Redeemable Preferred Stock (the
"Series B Preferred Stock"). The Company has applied to list the Series B
Preferred Stock on the Nasdaq Capital Market under the symbol "NYMTP."

The Company intends to use the net proceeds of the offering to acquire
primarily distressed residential mortgage loans and commercial
mortgage-related debt investments. The Company may also use a portion of the
net proceeds for general working capital purposes, including the repayment of
indebtedness.